birmingham track record - knight frank · converted apartments (from offices) to provide 160 one...

Birmingham Track Record

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Introduction.

Knight Frank Residential is a dedicated division incorporating Land Agency, Property Marketing, Lettings, Capital Markets and Development Consultancy. We offer clients a professional, comprehensive portfolio of tailored services covering every aspect of the residential process.

Acting for landowners, developers, house builders, banks, private funds, institutions, charities, investors, and end purchasers, our philosophy is one of challenge and innovation with an emphasis on driving value from all aspects of the development process.

With Birmingham’s presence on the global stage well and truly established we have been able to offer Turnkey solutions to a variety of clients.

Knight Frank Birmingham service lines operate across a vast array of cities in the heart of the UK.

Our service lines are headed by the industry’s leading professionals with extensive experience within each property sector.

We are Birmingham’s premier consultancy/agency for all your property requirements.

We hope you find our track record informative and would be more than happy to discuss your property needs in more detail.

Mark EvansHead of Regional Residential Development+44 121 233 6410+44 7765 220 [email protected]

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Our services.

BUILDING CONSULTANCY Specific focus on offering core Building Surveying services to both existing Knight Frank clients, local Birmingham based clients, national occupiers and investors in all aspects of Building Surveying, including Acquisition Surveys / Technical Due Diligence; Dilapidations; Contract Administration; Project Management; Project & Development Monitoring, in addition to wider Building Surveying services. Working with a variety of clients on a wide range of property types, providing acquisition advice to investors, strategic advice to corporate occupiers; dilapidations negotiations for both landlord and tenants and delivery of projects ranging in value up to £10 million.

We work closely with our clients and appointed contractors in order to ensure a smooth process from start to finish as well as high quality deliverance of our services in which we provide.

VALUATIONS Advising developers, land owners, financiers and private individuals on a range of matters including funding and purchasing decisions, we provide a complete spectrum of tailor-made valuation services for every type of scheme or property – from small scale in-fill developments to high profile multi-million pound mixed residential/commercial regeneration projects.

LAND The Birmingham team offer a full in-house service from start to finish, with planning advice through to selling the developed product.

These responsibilities include the sale and/or acquisitions of land for retained clients and the procurement of new development opportunities.

Advising on all aspects of the development proposition from acquisition to an eventual disposal strategy or development. The land team has the vision to identify development opportunities in the market and has an exceptional understanding of the land market in the Midlands.

NEW HOMES The New Homes team in Birmingham offer a turnkey solution to residential developers and end users alike.

For developers, the team has been established in Birmingham for over 20 years with over 100 years of knowledge, expertise and understanding of the regional new homes market. The team are often called in to consult on varying topics that arise during the development cycle from unit mix and size through to specification and sales and marketing strategies.

RESIDENTIAL SALES The Residential sales team in Birmingham specialises in the sale of exclusive apartments and family homes across the city, from Sutton Coldfield to Barnt Green, Edbaston/Harborne to Solihull, Moseley and the city centre. Knight Franks global brand combined with an experienced and successful team with a depth of local knowledge, it has always been our opinion that proactivity beats reactivity. Our team doesn’t wait for the phone to ring, we make the calls happen.

CAPITAL MARKETS Based in Birmingham, the team has an unrivalled knowledge of market performance, development metrics and key investment partner requirements in all regional UK markets. The team is involved in some of the foremost PRS and Build to Rent partnerships and have an intimate knowledge of development conditions around the country, as well as immediate access to institutional clients and private wealth.

Working closely with our Land, Investment Lettings & Management teams as well as our global network of offices, we provide a full service solution for all types of residential property.

INVESTMENT LETTINGS Many large international companies, such as HSBC and Deutsche Bank, are choosing Birmingham as their business hub and, with exciting development plans for the City, there are no signs of demand for rental property slowing down.

As an established name within the industry and registered with the Association of Residential Lettings Agents (ARLA), you can be sure that you are dealing with an experienced and professional agent.

INTERNATIONAL PROJECT MARKETING Knight Frank’s International Project Marketing business promotes new residential developments into overseas markets. We manage bespoke campaigns for clients across a range of locations and price points.

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Contents.

Consultancy 06

Building Consultancy 10

Valuations 14

Land 22

New Homes 28

Residential Sales 36

Capital Markets 40

Investment Lettings 46

Contacts 52

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Consultancy.

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Deal Type: Consultancy

Client: St Joseph Homes

Number of units: 404

Deal Type: Consultancy

Client: Bamford Property Group

Snow Hill Wharf, Birmingham.

Ashbourne Airfield, Ashbourne.

Knight Frank provided a turnkey service; from the acquisition of the site, development consultancy on unit mix and size, through to selling the apartments off-plan.

Knight Frank provided a full range of consultancy advice including viability, planning, environmental considerations and valuation advice.

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Building Consultancy.

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Lionel House, Birmingham.

Deal Type: Building Consultancy

Client: Aberdeen Standard Investments

Size: 259 units

Project Value: £60m

Project Duration: 2.5 Years (Two Phases)

Pre-construction due diligence of demolition and construction works packages, including advice on costs, procurement and review of construction documentation. Post contract monitoring services providing monthly inspections and reporting, ensuring compliance with building contracts and development agreements, monitoring project programme including management of monthly draw down application process.

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Valuations.

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Towcester Southern Extension, Northamptonshire.

Royal Sutton Place, Sutton Coldfield.

Deal Type: Red Book Valuation490 gross acres of farm land situated to the southern boundary of Towcester which is a small market town located some 9 miles from Northampton and 15 miles from Milton Keynes.

Outline planning permission obtained for the creation of up to 2,750 homes and complementary mixed use development to include employment land, local centres, mixed use commercial, two new primary schools, areas of public open space and a new relief road. Consultancy and formal Red Book Valuation instruction to provide commentary upon the consented development and provide the Market Value of the subject site reflecting the benefit of the outline consent and signed Section 106 Agreement.

Conversion of a locally listed former council house building into eighteen 1, 2 and 3 bedroom residential apartments. The building benefits from a prior approval notice to be converted under permitted development rights and planning permission for external alterations. The proposed units range in size from 527 sqft up to 2,390 sqft, are of a high specification and car parking is provided.

Instruction to provide a loan security valuation report to include a development appraisal reflecting the prior approval notice and planning permission. Values provided included Market Value of the property in its current condition, Gross Development Value upon completion of the development and Rental Values upon completion of the development.

Deal Type: Loan Security Valuation

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Hagley Road, Birmingham.



Development of a vacant site of circa 0.5 acres to provide 14 apartments. The consented development comprises the erection of a three storey apartment block providing 8 two bedroom apartments and a two storey apartment block providing 6 two bedroom apartments. The apartments vary in size from 592 sq ft to 958 sq ft, with an overall accommodation space of 10,032 sq ft. Each apartment also benefits from a single allocated parking space.

Instruction to provide a loan security valuation to reflect the benefit of the planning permission. Values provided included Market Value of the property in its current condition, Gross Development Value upon completion of the development and Aggregate Rental Values upon completion of the development.

A mixed-use building with the lower ground and ground floor of the building comprising a range of commercial uses including office accommodation, two retail units and a restaurant. The 1st to 10th floors comprise recently converted apartments (from offices) to provide 160 one and two bedroom apartments and studios ranging in size from 323 sq ft up to 931 sq ft. 25 car parking spaces are provided in the basement.

At the time of valuation 152 of the 160 apartments were let on individual Assured Shorthold Tenancies (AST’s) fully furnished but excluding bills. The commercial uses were let on separate commercial leases.

Canterbury House, Newhall Street, Birmingham.

Instruction to provide a loan security valuation report to provide an opinion of the Market Value as a single lot sale, Aggregate (break up) Value and Market Rental Values.

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Corbetts Close, Hampton-in-Arden.

AST & Regulated Tenancy Portfolio West Midlands.

Deal Type: Loan Security ValuationDeal Type: Loan Security Valuation

Development of a Greenfield site with planning permission in place and a Section 106 Agreement signed for the development of a total of 43 residential dwellings. The proposed scheme comprises a mixture of terraced, semi-detached and detached houses together with some bungalows and maisonettes. Units vary in size between 480 sq ft up to 2,500 sq ft and benefit from private gardens, parking and garaging.

Instruction to provide a loan security valuation to reflect the benefit of the planning permission. Values provided included Market Value of the site in its current condition, Gross Development Value upon completion of the development and Aggregate Rental Values upon completion of the development.

A total of 47 residential dwellings, situated throughout Birmingham, Walsall, Wolverhampton and Coventry comprising a mixture of semi-detached houses, terraced houses and individual apartments. Let on a mixture of Assured Shorthold Tenancies and Regulated Tenancies, the dwellings were all occupied and in a variety of conditions.

Instruction to undertake a full inspection of the portfolio and provide a valuation report for loan security purposes. Requirements included the provision of the individual Aggregate Market Value, Single Lot Value and Aggregate Market Rent of each dwelling. Commentary also provided upon the condition of the properties and the likely demand / value for the portfolio as a single lot.

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Land.

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Panther site, Holloway Head, Birmingham.

Deal Type: Disposal

Client: Lavignac Securities

Purchaser: St Joseph Homes

Deal Type: Disposal

Client: Panther Securities

Purchaser: Taylor Grange

Knight Frank acted for Lavignac and successfully disposed of the site on an unconditional basis to St Joseph Homes. St Joseph subsequently achieved planning consent for 404 apartments.

Knight Frank provided development consultancy and marketed the property with the benefit of planning for 487 apartments adjacent to The Mailbox. In 2018 the property was sold unconditionally to Taylor Grange.

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Assay Lofts, Jewellery Quarter.

Timber Yard, Pershore Street, Birmingham.

Deal Type: Disposal

Client: TCN

Purchaser: Elevate Property Group

Deal Type: Acquisition

Client: Galliard Apsley House Capital

Vendor: The Gooch Estate

Knight Frank marketed the prime development site of 32 apartments overlooking St Paul’s Square. The opportunity attracted numerous interested parties but was eventually sold to Elevate Property Group.

Acted for Galliard Apsley House Capital to acquire the 1.6 acre site on a subject to planning basis. The purchaser achieved planning in October 2018 for 379 apartments adjacent to Birmingham Smithfields.

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New Homes.

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Developer: Pimlico Capital

Size: 77 units

£/sqft achieved: As high as £443

Price range achieved: £130,000 - £590,000

Developer: Regal Property Group

Size: 189 units



The Lightwell, Birmingham.

The Bank Tower 1, Birmingham.

77 studio, 1 and 2 bedroom apartments located in the prestigious Colmore Business District. With contemporary interiors by award winning interior designer David Hutton. Our team dealt with all property marketing and sales through to completion.

This iconic development comprises of two towers, one being 21 storeys high and the tallest at 32 storeys high with concierge, private gym, residents’ lounge and coffee bar. Our team dealt with all property marketing and sales through to completion.

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Developer: St Joseph Homes



Price range achieved: £189,950 – £800,000

Developer: EDG Property Ltd

Size: 63 units




The Co-Operative, Coventry.

The highly anticipated flagship Birmingham development by St Joseph Homes (part of the Berkeley Group). Snow Hill Wharf comprises of 404 apartments built around podium gardens and canal side views. Residents will also enjoy facilities such as a private cinema, 24 hour concierge, conference room, gym and steam room.

Located in the historic Co-Operative Building. The Co-Operative development consists of 63 1 and 2 bedroom apartments built around the cities first indoor park. Residents also have private use of a resident lounge, rooftop terrace and exercise areas. Our team dealt with all property marketing and sales through to completion.

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Developer: Galliard Homes


£/sqft achieved: As high as £449.90


Timber Yard, Birmingham.

Adjacent to Birmingham Smithfields in the heart of the Chinese Quarter, Timber Yard is a luxury development of highly specified 1, 2 & 3 bedroom apartments. Our team assisted with the site sale and will be managing all property marketing and sales through to final handover.

Developer: Urban Splash

Size: 1150 units



Port Loop, Birmingham.

Port Loop is a 43-acre, canal-side site in Birmingham, just 15 mins from the city centre offering 1,150 new homes, retail and leisure spaces. The modular townhouse offers a range of specifications and finishes to suit every person, family and lifestyle. Our team are managing the property marketing and sales through to final handover.

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Residential Sales.

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Price: £650,000 Price: £995,000

Price: £950,000 Price: £1,895,000

5 Edgewood Drive, Barnt Green, Birmingham B45.

107 Little Sutton Lane, Sutton Coldfield B75.

165 Ravenhurst Road, Harborne, Birmingham B17.

9 Ladywood Road, Sutton Coldfield B74.

An exceptionally well-presented, designer split-level family home with garden and garage. The property comprises 3 bedrooms, 3 bathrooms and 4 reception rooms.

An immaculately presented family home in a very desirable location with lovely gardens. The property comprises 5 bedrooms, 3 bathrooms and 4 reception rooms.

An impressive period family home that has been significantly extended and beautifully updated. The property comprises 5 bedrooms, 4 bathrooms and 2 reception rooms.

A handsome period home with impressive appearance set in beautiful mature gardens in a sought after residential area. The property comprises 5 bedrooms, 2 bathrooms and 3 reception rooms.

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Capital Markets.

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Deal Type: Tenanted investment

Client: Kennedy Wilson


Price: £22.1m


Client: L1 Capital

Number of units: 287 units

Price: £33.6m

The Rock, Bury.

PfP Portfolio, Nationwide/UK.

Sold stabilised asset. Nationwide portfolio of tenanted assets.

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Deal Type: Forward Commitment/Tenanted investment

Client: MCR Property Group

Number of units: 88 units across two blocks

Price: £8.8m


Client: Beech Holdings

Number of units: 163 units across 4 blocks

Price: £39m

MCR Portfolio, Nationwide/UK.

Manchester Portfolio, Manchester.

Forward purchase of two PD conversions. Tenanted investment portfolio sale.

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Investment Lettings.

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Client: Perfection Point Holdings Ltd & Buy to Let Landlords

Number of units: 60

Client: Rockspring & Atlas Residential


The Bank Tower 1, Birmingham.

The Forum Birmingham.

A new addition to the Birmingham skyline, the first phase of The Bank offers residents stylish city centre living in studio, one and two bedroom apartments. Our team have provided a lettings and management service not only to a portfolio client but to individual purchasers.

Purchase report including scheme commentary and market analysis. Retained for the ongoing design and specification consultancy.

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International project marketing.

Knight Frank’s International Project Marketing business promotes new residential developments into overseas markets. They manage bespoke campaigns for clients across a range of locations and price points.

Over the last ten years the team handling the sale of UK projects has built up a considerable expertise in the Asian markets working with sales teams on the ground in centres such as Hong Kong, Singapore, Kuala Lumpur and mainland China. The service also extends to Russian and CIS markets, India and the Middle East. Buyers are generated through media promotion, exhibition launches and private ‘one-to-one’ events.

The International Project Marketing team also produce research covering all areas of their operation in this sector. Their global network comprises 244 offices in 43 countries across six continents, providing access to shared knowledge, a broader perspective and ultimately enhancing our advice.

The team have been instrumental in providing a number of international sales for various developments, Snow Hill Wharf, The Bank and Tennant Street Lofts.

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RESIDENTIAL / COUNTRY HOMES Jamie Carter Associate, Head of Birmingham Sales +44 121 233 6491+44 7966 266 391 [email protected]

INTERNATIONAL PROJECT MARKETINGSeb WarnerPartner, International Project Marketing+44 20 7861 5426+44 7765 220 [email protected]

VALUATIONSAndrew DavisPartner, Valuations Residential Investment and Development+44 121 233 6432+44 7769 965 [email protected]

INVESTMENT LETTINGSSara HortonAssociate, Investment Lettings+44 121 233 6436+44 7776 769 [email protected]

RESIDENTIAL CAPITAL MARKETSStuart EustacePartner, Residential Development+44 121 233 6437+44 7443 983 [email protected]

BUILDING CONSULTANCYDrew WatkinsPartner, Birmingham Commercial +44 121 233 6462+44 [email protected]

“The Berkeley Group decided in 2016 to establish a business, St Joseph, in the West Midlands. The local Knight Frank teams have assisted the growth of this new venture and we have been impressed by their knowledge of the region and the professional advice we have received. They have a strong local presence and network and have identified development opportunities that St Joseph have acquired in both Birmingham and the wider West Midlands.”

A N G U S M I C H I E , S T J O S E P H

“We have a very strong relationship with the Knight Frank team in Birmingham, which I hope will continue over the foreseeable future. We would not have succeeded in our acquisitions in Birmingham without their considerable help and expertise.”

G E R A R D N O C K , A P S L E Y H O U S E C A P I T A L

& G A L L I A R D H O M E S .

“The in depth market intelligence that is delivered by Knight Frank ensures that the landowner is comfortable that their capital receipt is maximised via the land promotion process via selecting the appropriate land promotion partner.”

D A N I E L O ’ D O N N E L L R O S C O N N G R O U P

Mark EvansHead of Regional Residential Development+44 121 233 6410+44 7765 220 [email protected]

NEW HOMES Peter SmithAssociate, Residential Development +44 121 233 6406+44 7814 214 [email protected]

LANDWill JordanPartner, Land Agency+44 121 233 6413+44 7770 017 [email protected]

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Disclaimer

No authority and no reliance: The particulars in this anticipated property list document are not an offer, contract, warranty or representation, nor part of one. It must not be relied upon in any way. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the subject matter of this document. Details or anticipated details may have been provided by others without verification and may not be up to date when you read them. Accordingly, any statements by Knight Frank LLP or any joint agent in this document or by word of mouth or in writing (‘information’) are made entirely without responsibility on the part of the agent(s), developer(s), seller(s) or lessor(s). This document is provided strictly on the basis that you cannot rely upon the information and Knight Frank LLP (and our affiliates, members, consultants, ‘partners’ and employees) will have no responsibility or liability whatsoever in relation to the accuracy, reliability, currency, completeness or otherwise of the information or as to any assumption made or as to any errors or for any loss or damage resulting from any use of or reference to the information. 2. Independent inspections and enquiries: You must take specific independent advice from your professional legal, financial and property advisers and satisfy yourself by appropriate investigations, searches and enquiries about all matters relating to the subject matter of this document, including the correctness, currency and completeness of any information. This document is for general outline interest only; it is not definitive and does not purport to provide the information which would be needed by a prospective purchaser of any of the properties or anticipated properties listed in it. 3. Images and changes: Computer-generated and other sample images or plans may only be broadly indicative and their subject matter may change. Photographs show only certain parts of any property as they appeared at the time they were taken. 4. Prices, details and changes: Prices, areas, specifications, dimensions, distances, services, facilities, quality standards, completion times, after-care and other details given in this document are as anticipated at the time of preparation for publication but cannot be relied upon and may change or be corrected from those given to us without any obligation to notify you. You must rely upon your own inspections, surveys and enquiries of the solicitors acting for the seller(s) or lessor(s) at the relevant time. 5. VAT and other taxes: The position in respect of VAT or other taxes relating to any property (where applicable) may change without notice. VAT and other taxes may be payable in addition to the purchase price in respect of any property according to the law applicable. 6. Intellectual property: Copyright Knight Frank LLP 2018. All rights reserved. No part of this document may be reproduced or transmitted in any form or by any means, electronic or otherwise, without prior written permission from Knight Frank LLP for the same including, in the case of reproduction, prior written approval of Knight Frank LLP to the specific form and content within which it appears. 7. General: Each of the provisions set out in this notice shall apply only so far as applicable laws permit. Knight Frank LLP is a limited liability partnership, registered in England with registered number OC305934, which trades as Knight Frank. Our registered office is 55 Baker Street, London W1U 8AN, where you may look at a list of members’ names. Any person described as a partner is a member, consultant or employee of Knight Frank LLP, not a partner in a partnership.

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